Ryanair posts first summer loss in decades, flags more capacity cuts

Air traffic across Europe could be as much as 75% lower than normal this winter, Michael O'Leary. Picture: Larry Cummins

Ryanair posted a loss for its key summer period for the first time in decades, and warned that the COVID-19 crisis could force further cuts and leave capacity next summer as little as half of normal levels.

Europe's largest low-cost airline said COVID-19 restrictions had pushed passenger numbers down 80% in the six months ended Sept. 30, when it typically makes most of its annual profit.